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According to the Prismark preliminary estimate, the global PCB output value in 2024 is about 73.026 billion US dollars, a year-on-year increase of 5%.

Benefiting from the recovery of industry prosperity and the recovery of terminal demand, several listed companies in the industry such as Systech Corporation (688183.SH), Shenzhen Kinwong Electronic (603228.SH), and Shennan Circuits (002916.SZ) are expected to achieve good performance in the first half of the year, among which Systech Corporation's net profit is expected to increase by more than 10 times year-on-year.

According to Systech Corporation's interim report for 2024 announced today, the company achieved revenue of 2.396 billion yuan and net profit attributable to shareholders of 0.303 billion yuan in the first half of the year, an increase of 11.38% and 54.49% year-on-year, respectively. The main reasons for the performance changes are the increase in business volume, the increase in product prices, and the decrease in the exchange rate of RMB to USD.

Systech Corporation stated that in the first half of this year, the electronics industry as a whole rebounded, and the company closely followed market demand to develop its business. With sufficient orders and the accelerated release of capacity from the convertible bond fundraising project, the overall capacity utilization rate has increased. Further optimization of the product structure has driven an increase in gross margin. The company primarily conducts overseas business, with the settlement currency being mostly in USD. In the first half of this year, the RMB to USD exchange rate decreased, resulting in foreign exchange gains.

After a significant adjustment in 2023, the PCB industry is experiencing a recovery, driven by the rise and application of emerging technologies and the increasing demand for high-performance PCB boards such as high-frequency, high-speed, low-loss PCBs. According to industry insiders interviewed by Cailianshe, the high-end PCB industry chain, especially datacenter switches and AI servers, as well as the high-end PCB demand driven by automotive intelligence, continue to grow.

Cailianshe reported that in the context of the industry showing signs of recovery, Systech Corporation, a printed circuit board manufacturer (603920.SH), achieved a double increase in revenue and net profit in the first half of the year, with the automotive application market being the company's largest sales business sector.

The semi-annual report shows that in the downstream application area of Olympic Circuit Technology, the share of automotive electronics is the highest, especially the rapid growth of the new energy automotive electronics business in recent years, providing support for the company's performance. In the first half of this year, the company introduced domestic automotive terminal customers, with customers such as Geely Jiuke, Chery Zhihang, and Ideal Chauffeur gaining designated and mass production supply for the smart driving project.

In addition, Shennan Circuits is also aggressively expanding its PCB business for artificial intelligence, low-altitude flight, wind power, photovoltaics, and energy storage. In terms of products, high-density, ultra-low loss PCBs for cloud data centers, AI high-performance modules, edge computing, and other products have been put into mass production.

As for the net cash flow generated from operating activities in the first half of the year, the year-on-year decline was 48.88%, which Shennan Circuits explained was due to an increase in purchasing expenses caused by the maturity of acceptance bills.